HARRY HUGHES, Governor

2539

Approved May 19, 1981.

CHAPTER 662

(House Bill 1018)

AN ACT concerning

Washington College Loan Act of 1978 -
Increase in State Debt Authorized

FOR the purpose of amending Section 1 of Chapter 1018 of the
Acts of the General Assembly of 1978 to alter the total
authorization of the State Debt for the purpose of the
renovation and modification of a central heating
distribution system on the campus of Washington College
and to provide certain restrictions on what qualifies
as a matching fund; and extending the date by which
Washington College must provide at least an equal and
matching fund for the same purpose.

BY repealing and reenacting, with amendments,

Chapter 1018 of the Acts of the General Assembly of
1978

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND,' That chapter(s) of the Acts of the General
Assembly be repealed, amended, or enacted to read as
follows:

Chapter 1018 of the Acts of 1978

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1)  The Board of Public Works may borrow money and
incur indebtedness on behalf of the State of Maryland
through a State loan to be known as the Washington College
Loan of 1978 in the aggregate principal amount of [$210,000]
$560,000. This loan shall be evidenced by the issuance and
sale of State general obligation bonds authorized by a
resolution of the Board of Public Works and issued, sold and
delivered in accordance with the provisions of §§ 19 to 23
of Article 31 of the Annotated Code of Maryland (1976
Replacement Volume and [1977] 1980 Supplement, as amended
from time to time).

(2)  The bonds issued to evidence this loan or
installments thereof may be sold as a single issue, or may
be consolidated and sold as part of a single issue  of bonds
under § 2B of Article 31 of the Code.